Hoegh LNG Signs FSRU Deal with Gas Natural Fenosa

Norway's Höegh LNG said on Wednesday that its floating storage and regasification unit (FSRU) Höegh Giant has started its time charter contract with Spanish LNG operator Gas Natural Fenosa.

The initial term of the contract is three years, and it includes the option for Gas Natural Fenosa to utilize the unit as an FSRU at a pre-defined day rate and for a pre-defined term.

Until FSRU employment is established, the unit will trade in Gas Natural Fenosa's fleet, earning a LNG carrier spot-market-linked day rate.

The Höegh Giant will transit the Panama Canal destined for Sabine Pass in the United States, where it will load its first cargo under the Gas Natural Fenosa contract, reflecting the flexibility and full trading capabilities of Höegh LNG's premier FSRU fleet.

For the additional 6 FSRUs and 2 LNGCs in the operating fleet, Höegh LNG is pleased to confirm that all units continue to operate in accordance with their long term contracts.

Höegh LNG provides floating energy solutions and operates world-wide with a leading position as owner and operator of floating LNG import terminals; floating storage and regasification units (FSRUs), and is one of the most experienced operators of LNG Carriers (LNGCs).